CAPE RISING: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
CAPE RISING
Largest movements
- Tangible fixed assets +€537,091
up €537,091 (+74.4%), from €721,652 to €1.3m
of which Land and buildings: +€535,241
- Cash -€369,853
down €369,853 (-94.1%), from €393,096 to €23,243
mainly Investment in fixed assets (net) (-€676,195) and Net result for the year (-€113,974)
- Receivables within one year +€36,560
up €36,560 (+99.2%), from €36,866 to €73,426
of which Trade receivables: +€21,816
- Debts after one year +€230,653
up €230,653 (+38.1%), from €605,971 to €836,624
of which Other amounts payable: +€242,500
- Reserves -€113,974
down €113,974 (-18.3%), from €623,944 to €509,970
of which Distributable reserves: -€110,226
- Other debts +€99,828
up €99,828 (+148%), from €67,442 to €167,270
- Financial income -€106,723
down €106,723 (-100.0%), from €106,724 to €1
- Financial charges +€17,027
up €17,027 (+56.5%), from €30,150 to €47,177
- Gross operating margin +€9,254
up €9,254 (+14.0%), from €66,318 to €75,572
- Depreciation +€7,820
up €7,820 (+6.0%), from €131,284 to €139,104
- Taxes -€4,184
down €4,184 (-94.2%), from €4,440 to €257
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,416,895 | €1,621,674 | +€204,779 | +14.5% |
| Fixed assets | 21/28 | €721,652 | €1,258,743 | +€537,091 | +74.4% |
| Tangible fixed assets | 22/27 | €721,652 | €1,258,743 | +€537,091 | +74.4% |
| Land and buildings | 22 | €716,199 | €1,251,440 | +€535,241 | +74.7% |
| Furniture and vehicles | 24 | €5,454 | €7,303 | +€1,850 | +33.9% |
| Current assets | 29/58 | €695,243 | €362,931 | -€332,312 | -47.8% |
| Amounts receivable within one year | 40/41 | €36,866 | €73,426 | +€36,560 | +99.2% |
| Trade receivables | 40 | €35,728 | €57,544 | +€21,816 | +61.1% |
| Other amounts receivable | 41 | €1,139 | €15,882 | +€14,743 | +1,294% |
| Current investments | 50/53 | €262,084 | €262,084 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €393,096 | €23,243 | -€369,853 | -94.1% |
| Deferred charges and accrued income | 490/1 | €3,196 | €4,177 | +€981 | +30.7% |
| Total equity and liabilities | 10/49 | €1,416,895 | €1,621,674 | +€204,779 | +14.5% |
| Equity | 10/15 | €636,344 | €522,370 | -€113,974 | -17.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €623,944 | €509,970 | -€113,974 | -18.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €129,383 | €125,635 | -€3,748 | -2.9% |
| Distributable reserves | 133 | €494,561 | €384,335 | -€110,226 | -22.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €30,002 | €29,065 | -€937 | -3.1% |
| Deferred taxes | 168 | €30,002 | €29,065 | -€937 | -3.1% |
| Amounts payable | 17/49 | €750,550 | €1,070,240 | +€319,690 | +42.6% |
| Amounts payable after more than one year | 17 | €605,971 | €836,624 | +€230,653 | +38.1% |
| Financial debts | 170/4 | €87,221 | €75,374 | -€11,847 | -13.6% |
| Other amounts payable | 178/9 | €518,750 | €761,250 | +€242,500 | +46.7% |
| Amounts payable within one year | 42/48 | €137,145 | €219,753 | +€82,608 | +60.2% |
| Current portion of amounts payable after more than one year | 42 | €11,249 | €11,847 | +€598 | +5.3% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €23,755 | €17,093 | -€6,662 | -28.0% |
| Suppliers | 440/4 | €23,755 | €17,093 | -€6,662 | -28.0% |
| Taxes, remuneration and social security | 45 | €34,699 | €23,544 | -€11,156 | -32.1% |
| Taxes | 450/3 | €34,699 | €23,544 | -€11,156 | -32.1% |
| Other amounts payable | 47/48 | €67,442 | €167,270 | +€99,828 | +148% |
| Accrued charges and deferred income | 492/3 | €7,434 | €13,862 | +€6,429 | +86.5% |
| Non-recurring operating income | 76A | - | €1,584 | +€1,584 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €131,284 | €139,104 | +€7,820 | +6.0% |
| Other operating charges | 640/8 | €3,757 | €3,945 | +€188 | +5.0% |
| Gross operating margin | 9900 | €66,318 | €75,572 | +€9,254 | +14.0% |
| Operating profit (loss) | 9901 | -€68,724 | -€67,478 | +€1,246 | +1.8% |
| Financial income | 75/76B | €106,724 | €1 | -€106,723 | -100.0% |
| Recurring financial income | 75 | €106,724 | €1 | -€106,723 | -100.0% |
| Financial charges | 65/66B | €30,150 | €47,177 | +€17,027 | +56.5% |
| Recurring financial charges | 65 | €30,150 | €47,177 | +€17,027 | +56.5% |
| Profit (loss) for the period before taxes | 9903 | €7,850 | -€114,654 | -€122,504 | |
| Transfer from deferred taxes | 780 | €471 | €937 | +€466 | +98.9% |
| Income taxes | 67/77 | €4,440 | €257 | -€4,184 | -94.2% |
| Profit (loss) for the period | 9904 | €3,881 | -€113,974 | -€117,854 | |
| Transfer from tax-exempt reserves | 789 | €1,884 | €3,748 | +€1,864 | +98.9% |
| Profit (loss) for the period to be appropriated | 9905 | €5,765 | -€110,226 | -€115,991 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.